Posted 3/11/2024, 12:47:52 AM

Saudi Aramco Profits Drop 25% to $121B But Company Remains Resilient

Saudi Aramco reported a 25% drop in 2023 profits to $121 billion, though still the second-highest ever
Dividends will increase by almost a third to $98 billion compared to 2022
The profit decline is due to Aramco cutting production and lower oil prices in 2023
Aramco CEO said the company showed "resilience" despite economic headwinds
The company is looking for investment opportunities in China's growing oil market

bbc.com